200-strong Derby firm sold to French medical packaging giant
Sterimed, the French medical packaging giant, has acquired Riverside Medical Packaging, the supplier of sterilisation packaging systems and services, based in Derby.
Riverside has been trading for 40 years and specialise in tailored contract packing services for the medical device industry. Under the tradename Aseptic Medical Devices (AMD), the company has also developed multi-packed syringes and medical devices.
The firm employs 200 people in Derby.
The management team of Riverside, led by managing director Matthew Roe, will stay in place. David Shaw, founder of the company, will stay as a director of Riverside and will join the Sterimed core entrepreneurs’ team by becoming a shareholder of the Sterimed group alongside the existing management team.
Thibaut Hyvernat, president and CEO, said: “All the preparatory works and discussions have taken place in such a constructive spirit that this alliance became obvious for everybody very quickly, making all of us sure of its relevancy. This is another big step forward in Sterimed development strategy, bringing a lot of new cross-fertilization opportunities for Riverside Medical and a number of current Sterimed sites and businesses.”
Shaw said: “Over its 45 year history Riverside has grown into one of the UKs leading medical packaging suppliers. Our success has been the result of a dedicated and committed workforce, long term vision and innovation. With the synergies, opportunities and security that will now arise from being part of the Sterimed family of companies, I am confident that the future prosperity of Riverside is assured, and our customers will benefit hugely from the wider variety of services Riverside will now be able to offer.”
Roe added: “The synergies for cooperation and expansion within the group will accelerate our growth and cement our position as one of the leading providers to the medical device industry. The partnership with these prestigious medical packaging companies will give us a global presence and create exciting new opportunities.”
Sally Saunders of Translink said: “It has been a privilege to work with the shareholders of Riverside Medical packaging. The business has achieved significant growth through continued innovation and building trusted customer relationships, becoming a market-leading player and we are excited to see the huge growth potential in joining forces with the Sterimed group.”
Advisers on the transaction were Sally Saunders and Amanda Betts from Provantage Corporate Finance. Legal advice was from Nigel Blackwell and Harpinder Nahl from Browne Jacobson.
